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- Dictionaryinventory/ˈɪnv(ə)nt(ə)ri/
noun
- 1. a complete list of items such as property, goods in stock, or the contents of a building.
verb
- 1. make a complete list of: "I inventoried his collection of drawings"
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Jun 26, 2024 · Inventory is the raw materials and goods that a company produces or sells. Learn about the three types of inventory, how to value them, and how to manage them effectively.
- Will Kenton
Learn the meaning of inventory as a noun and a verb in English, with synonyms, related words and phrases, and examples from different contexts. Find out how to use inventory in business, accounting, computer games, and more.
Sep 5, 2023 · Inventory is the accounting of items, component parts and raw materials that a company either uses in production or sells. See examples of the 13 types of inventory.
- Abby Jenkins
- Product Marketing Manager
An inventory is a complete list of all merchandise or stock of items owned by or available from a business. At a store, an inventory is the complete list of all items for sale at the store. At a manufacturer, an inventory is a complete list of all the raw materials they have, as well as finished items and items being created.
Learn what inventory is, how to record it in accounting, and how to manage it effectively. Find out the difference between merchandise, raw materials, work-in-process, and finished goods, and see examples and ratios.
Learn the meaning of inventory as a noun and a verb, with synonyms, examples, and word history. Find out how to use inventory in different contexts, such as business, accounting, or museums.
Inventory is a current asset account found on the balance sheet, consisting of all raw materials, work-in-progress, and finished goods that a company has accumulated. Ending inventory may be calculated using the FIFO method, the LIFO method, specific identification, and the weighted average method.
